The Merlot
Overview & Key Facts
The Merlot is a freehold boutique condominium on Keng Lee Road in District 8, completed in 2009 by Fragrance Properties Pte Ltd. With only 42 units spread across a modest but well-maintained low-rise podium, The Merlot occupies a quiet residential street that runs between the Novena and Newton corridors — two of Singapore’s most sought-after city-fringe addresses. The development’s wine-inspired naming reflects a design approach aimed at understated sophistication rather than showpiece grandeur.
Fragrance Group is a Singapore-listed developer best known for small-to-mid-scale freehold projects in the central and city-fringe markets. The Merlot fits neatly into that profile: a quiet, no-frills building in a strong locational corridor, designed primarily for owner-occupiers who want freehold land in the RCR at a meaningful discount to the flashier names along Newton and Novena. At roughly 42 units, the development maintains a private-house atmosphere rarely found at this price point.
The buyer profile here skews toward professionals working in the Orchard-CBD belt, small families who value proximity to the cluster of top-tier schools on Newton Road, and long-term owners who regard the freehold title as their primary investment thesis. Rental demand from medical and legal professionals at the nearby Novena medical cluster has supported occupancy rates, with an average rental of around S$3,100 per month in recent periods.
Location & Connectivity
Keng Lee Road is one of those quietly privileged addresses that does not advertise itself. Sandwiched between Balestier Road to the north and Newton Road to the south, the street occupies a lozenge of landed-and-low-rise residential land that has resisted the density pressures common to the rest of District 8. The Merlot sits near the southern end of this stretch, which means residents face short distances to the commercial and transport infrastructure of both Newton and Novena — without the traffic noise of either main road directly at their doorstep.
The nearest MRT is Novena MRT (NS20) on the North-South Line at approximately 0.74 km on foot — a 9-to-10-minute walk that is manageable for commuters and very comfortable for those who cycle. From Novena, Orchard is two stops south and Raffles Place is reachable in about 15 minutes. Newton MRT interchange (NS21 / DT11) is slightly further at around 0.91 km, but offers the additional convenience of the Downtown Line, giving residents direct access to the Marina Bay financial district and the western tech corridor at one-north without a transfer. Farrer Park MRT (NE8) on the North-East Line adds a third option at 0.90 km — useful for those commuting to Dhoby Ghaut or the eastern heartlands.
For drivers, Keng Lee Road offers easy exit to both Moulmein Road and Thomson Road, with the CTE on-ramp reachable in under five minutes. The CBD is approximately 12 minutes by car in off-peak conditions. Orchard and the retail corridor can be reached in 8 minutes. Changi Airport takes around 30 minutes via the PIE. Parking is not a concern — the development has its own basement carpark at a ratio appropriate for 42 units.
Day-to-day amenities are strong for a city-fringe location. Velocity @ Novena Square is a brisk 12-minute walk, offering a supermarket, food court, medical and dental clinics, and a range of retail. The Balestier Road shophouse belt — known for its hardware, lighting, furniture, and hawker options — is five minutes in the other direction. United Square shopping mall on Thomson Road is roughly 10 minutes on foot, housing a FairPrice, Subway, and the largest concentration of enrichment schools in the central region — relevant context for families on the Merlot’s school-proximity story.
Schools & Education
2 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| St. Margaret's Secondary School | secondary | Within 1 km |
| St. Margaret's Primary School | primary | Within 1 km |
| CHIJ Our Lady Queen of Peace | primary | Within 1 km |
| LASALLE College of the Arts | tertiary | ~1.1 km |
| Farrer Park Primary School | primary | ~1.1 km |
| Singapore Chinese Girls' School (Primary) | primary | ~1.1 km |
| ACS (Junior) | primary | ~1.1 km |
| Anglo-Chinese School (Primary) | primary | ~1.2 km |
Facilities
The Merlot is a boutique development in the truest sense, and prospective buyers should calibrate expectations accordingly. At 42 units, the development offers a swimming pool, a small gymnasium, and landscaped garden grounds — the essentials expected at this tier, but none of the multi-court, resort-style amenity spread found in larger developments. What it trades in breadth, it partially recovers in exclusivity: facilities shared among 42 households rather than 400 means no booking queues, no competition for pool lanes at 7 am, and a garden that never feels crowded. For residents who genuinely use facilities rather than photograph them for Instagram, this is a reasonable trade.
“The pool is never crowded — some mornings I have the whole thing to myself. That alone makes the maintenance fee feel worth it compared to the bigger projects nearby where you have to book three days ahead.”
— Owner-occupier review via PropertyGuru, 2024
The building is well-maintained and landscaping is kept to a clean, low-profile standard. Security is managed access with intercom, appropriate for the scale. The small gymnasium is functional for cardio and light weight training, though gym-focused residents will find themselves supplementing with the commercial facilities at Velocity or the Novena medical hub, both walkable. One practical note: the management committee for a 42-unit development tends toward active owner involvement — a dynamic that can work very well or create friction depending on ownership mix.
Unit Sizes & Layout
Transaction history at The Merlot is thin — just five caveats recorded in recent years — which makes definitive statements about unit mix difficult. Available data points to a predominantly one- and two-bedroom configuration, consistent with the boutique city-fringe template Fragrance Group typically deploys. For a 2009-vintage development, unit sizes generally reflect the pre-shoebox era norms: two-bedrooms in the 850–1,000 sqft range are plausible, which compares favourably to contemporary builds where a two-bedroom often starts at 700 sqft. Buyers should verify exact sizes unit-by-unit from the developer’s floor plan records or the URA Realis database before transacting.
The overall unit layout quality for a Fragrance Group project of this vintage is functional rather than exceptional — the developer’s DNA leans toward well-placed land buys at competitive acquisition costs, with fitouts that are clean but not premium. Buyers who have lived in well-specified freehold boutiques from developers such as Bukit Sembawang or Allgreen may find the finishings more modest. That said, a reasonable renovation budget of S$80,000–S$120,000 can bring a resale unit to a very comfortable contemporary standard, and the spacious-by-modern-standards floor plates provide the canvas to do it well.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 1 BR | 2 | $1,461 | $755,000 |
| 2 BR | 3 | $1,336 | $1,179,333 |
Pricing & Market Position
Based on 5 recorded transactions, sale prices range from $710,000 to $1,320,000, averaging $1,009,600 (~$1,382 psf).
Rents range from $1,100 to $4,750 per month across 70 rental transactions. Current rental yield sits at approximately 3.8%.
Price Appreciation
From 2021 to 2026, the average PSF has appreciated by 0.6% (from $1,374 to $1,382 psf).
Neighbourhood Comparison
The most direct comparison is City Square Residences — a freehold development roughly 800m north in the same district, at S$1,892 psf. It has 910 units, considerably better facilities, and more transaction liquidity, but costs roughly 37% more per square foot. For buyers who want freehold and do not need boutique exclusivity, City Square is the rational baseline. Piccadilly Grand (407 units, 99-year leasehold, S$2,164 psf) is the obvious new-launch counterpoint: an integrated development with direct MRT linkage to Farrer Park, modern facilities, and a fresh lease, but at a 57% PSF premium and with a depreciating tenure. The Merlot’s freehold title becomes more valuable in every year that a leasehold development like Piccadilly Grand ages.
Kerrisdale (481 units, 99-year leasehold from 1998, S$1,395 psf) is the closest PSF match in the district and is relevant for budget-conscious buyers — but its lease started 27 years ago, leaving around 72 years remaining, which will increasingly affect bank financing eligibility and resale appetite as the decade progresses. For buyers who can stretch S$13,000–S$20,000 extra in absolute quantum, The Merlot’s perpetual freehold title makes the comparison straightforward. Where the analysis is more nuanced: buyers seeking strong facilities, mega-condo amenities, or immediate flip-ready liquidity will find The Merlot’s boutique profile and thin market a structural constraint, and should look more seriously at City Square Residences or Piccadilly Grand despite the higher entry cost.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| THE MERLOT | Freehold | 2009 | 42 | $1,382 |
| PICCADILLY GRAND | 99 yrs lease commencing from 2021 | 2022 | 407 | $2,164 |
| CITYLIGHTS | 99 yrs lease commencing from 2004 | 2007 | 600 | $1,760 |
| CITY SQUARE RESIDENCES | Freehold | 2009 | 910 | $1,892 |
| STURDEE RESIDENCES | 99 yrs lease commencing from 2015 | — | 305 | $1,999 |
| KERRISDALE | 99 yrs lease commencing from 1998 | 2006 | 481 | $1,395 |
ShiokNest Scores
Our proprietary scoring system evaluates THE MERLOT across multiple dimensions.
What Residents Say
“Very private and quiet development. You almost forget you are five minutes from Novena MRT. The neighbourhood has a real community feel — people actually know their neighbours here, which you don’t get in the big condos.”
— Owner-occupier via EdgeProp, 2024
“Good location, good schools nearby for the kids, and the freehold title means I’m not watching the lease count down. My only wish is that there was a tennis court or a slightly bigger gym — for anything serious I drive to the gym at Novena Square.”
— Resident review via PropertyGuru, 2023
“Maintenance fees are fair for what you get. Management is responsive because the MCST is mostly residents who live here. The small size means decisions get made quickly — we repainted the whole building exterior in three months flat.”
— Resident via 99.co, 2024
Across platforms, the pattern is consistent: residents value the quiet street, the freehold permanence, and the fact that 42-unit living genuinely feels different from condo-estate anonymity. The facilities gap relative to larger developments is acknowledged but accepted as an intrinsic feature of boutique living rather than a deficiency. EdgeProp’s rental records show robust occupancy, suggesting the location story resonates with tenants even when direct amenities are limited.
Strengths & Weaknesses
- Freehold tenure — perpetual title with no lease decay concern
- Three MRT lines within 1 km: Novena (NS), Newton (NS+DT), Farrer Park (NE)
- Premium school cluster — St Margaret's Primary 320m, multiple top schools within 1.2 km
- Boutique exclusivity: 42 units means uncrowded facilities and neighbour-community feel
- Meaningful PSF discount vs freehold peers (City Square FH at S$1,892 psf)
- Quiet, low-density street despite proximity to Novena and Newton MRT corridors
- Novena medical hub rental demand from healthcare professionals provides stable occupancy
- Pre-shoebox era unit sizes — likely larger floor plates than contemporary equivalents
- Three-line MRT connectivity rarely available outside D9/D10 at this price band
- Minimal facilities — pool and basic gym only; no courts, no clubhouse, no spa
- Very thin transaction volume (5 sales recorded) — PSF is volatile and illiquid
- En-bloc score 45/100 — site geometry and mixed ownership may limit collective sale viability
- ShiokNest composite score 58/100 — below average for comparable freehold RCR peers
- Developer pedigree (Fragrance Group) does not command premium perception vs CapitaLand or CDL
- Interior finishings reflect budget-conscious 2009 positioning; renovation budget advisable
- No on-site F&B, retail, or enrichment facilities typical of larger developments
- Gross yield 3.79% — adequate but not standout for an investor-led purchase thesis
Verdict
The Merlot sits in a genuinely compelling niche: a freehold title in one of the most transport-connected corridors in Singapore, at a PSF that looks inexpensive relative to every competing freehold name in the vicinity. City Square Residences — the closest large freehold development in D8 — transacts at around S$1,892 psf. Sturdee Residences and Piccadilly Grand, both leasehold, command S$1,999 and S$2,164 psf respectively. Against this backdrop, The Merlot’s S$1,382 psf average represents a meaningful valuation gap that is hard to explain purely by facilities or age, and more likely reflects the illiquidity discount inherent in a 42-unit development with thin transaction volumes.
For the right buyer — someone who values freehold title, school proximity, and the Novena-Newton transport node above resort-scale facilities and does not need to flip in under five years — The Merlot makes a rational own-stay purchase. The gross yield of 3.79% is adequate rather than exceptional, but the rental base from medical professionals at Novena Health City provides structural demand that does not depend on economic cycles in the same way that, say, a tech-district condo might. Lease is perpetual, which removes the 30-to-60-year horizon anxiety that affects many comparable properties in this price range.
The caveats are real. An en-bloc score of 45/100 and a ShiokNest composite of 58/100 both reflect the thin liquidity and facilities gap versus larger neighbours. Thin transaction volumes mean that one or two atypical deals can move the average PSF significantly in either direction — the PSF trend line shows exactly this volatility, swinging from S$1,131 to S$1,522 within recorded history. Buyers should not extrapolate a smooth appreciation curve from these data points. As a long-term hold — 10 years-plus — with freehold tenure and strong school catchment, the case is more robust than the short-term data suggests.